ISF Limited has scheduled its 38th Annual General Meeting for September 28, 2026. The meeting will primarily address the adoption of un-adopted audited financial statements for FY25 and approve new board appointments.

The company also announced that National Securities Depository Limited (NSDL) will facilitate remote e-voting for shareholders. E-voting will commence on September 25, 2026, at 9:00 am and conclude on September 27, 2026, at 5:00 pm.

Board Appointments

The board approved the appointment of Anil Kumar Verma as Whole-Time Director and Ruchi Sabharwal as Non-Executive Non-Independent Director on August 31, 2026. These proposals require Reserve Bank of India and shareholder approval.

• Anil Kumar Verma: Appointed as Whole-Time Director for a five-year term. He brings over 23 years of experience in commercial banking, SME lending, and fintech-driven B2B lending across India and Tanzania.
• Ruchi Sabharwal: Appointed as Non-Executive Non-Independent Director for a one-year term. She has more than 22 years of experience in Human Resources, having held leadership roles in large Indian and multinational corporations in financial services and IT sectors.

Both directors are not debarred by SEBI or any other authority. Their effective dates depend on RBI approval.

AGM and E-Voting Details

The 38th Annual General Meeting is scheduled for Monday, September 28, 2026, at 4:00 pm via Video Conferencing or Other Audio-Visual Means. The primary agenda includes placing the un-adopted audited financial statements for the financial year ended March 31, 2025, before members.

M/s. Parul Agrawal & Associates has been appointed as the scrutinizer for the e-voting process. Shareholders can view or download the Annual Report for FY25-26 and AGM notices from the company’s website or its Registrar and Share Transfer Agent, Skyline RTA.

Shareholder Communication and Compliance

Pursuant to Regulation 30 read with Regulation 36(1)(b) of the SEBI Listing Regulations, 2015, ISF Limited has provided web-links for shareholders who have not registered their email addresses. The Annual Report for the Financial Year 2025-2026 and the Notice of the 38th AGM are accessible via the company’s website at isflimited.in.

The company reminded shareholders to update their KYC details pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. This circular mandates that listed companies record PAN, address with PIN code, mobile number, bank account details, specimen signature, and choice of nomination for shareholders holding securities in physical mode. Security holders holding in physical mode without updated details shall be eligible for payments only through electronic mode with effect from April 1, 2024.

ISF Limited reported a net profit of ₹33.7 lakh for the first quarter of FY27 (Q1FY27), marking a sharp turnaround from the ₹187.49 lakh loss recorded in the fourth quarter of FY26. The company’s revenue from operations declined 20.4% year-on-year to ₹34.04 lakh, down from ₹42.74 lakh in Q1FY26. Despite the revenue contraction, the bottom line improved significantly as total expenses fell to ₹30.28 lakh from ₹300.62 lakh in the previous quarter, driven primarily by a reduction in other expenses.

The Board of Directors approved the unaudited financial results during a meeting held on August 8, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the company’s statutory auditors, VSSA & Associates. The auditors issued an unmodified opinion, stating that nothing came to their attention to suggest the financial statements contained material misstatements. Bhupendra Kaushik, Independent Director, was authorized to sign the results on behalf of the Board.

Financial Performance

Revenue from operations stood at ₹34.04 lakh in Q1FY27, compared to ₹42.74 lakh in the same period last year. Other income increased to ₹0.79 lakh from negligible levels in Q1FY26. Total income for the quarter was ₹34.83 lakh.

Expenses showed a substantial decrease quarter-on-quarter. Employee benefit expenses rose to ₹10.12 lakh from ₹5.75 lakh in Q4FY26 but remained higher than the ₹8.04 lakh recorded in Q1FY26. Finance costs increased to ₹7.61 lakh from ₹6.31 lakh year-ago. However, other expenses dropped dramatically to ₹12.55 lakh from ₹289.15 lakh in the immediate prior quarter, which was the primary driver behind the improved profitability.

The company posted a profit before tax of ₹4.55 lakh, up from a loss of ₹258.43 lakh in Q4FY26. After accounting for tax expenses, including deferred tax provisions, the net profit for the period was ₹33.7 lakh. Earnings per share (EPS) were ₹0.0035, compared to a loss per share of ₹0.1974 in the previous quarter.

What the Numbers Show

The most notable aspect of ISF Limited’s Q1FY27 results is the drastic reduction in "other expenses," which fell from ₹289.15 lakh in Q4FY26 to ₹12.55 lakh in Q1FY27. This singular factor transformed the company’s financial position from a significant quarterly loss to profitability, despite a decline in operational revenue. The absence of material costs, stock-in-trade purchases, and depreciation expenses further contributed to the lean cost structure in the current quarter. Investors should note that while the bottom line has turned positive, top-line growth remains under pressure, with revenue declining over 20% compared to the same period last year.